Bitcoin Gold

What is Bitcoin Gold

Bitcoin Gold (BTG) is the second fork from Bitcoin (i.e. the second version to stem from Bitcoin’s source code) after Bitcoin Cash. The Bitcoin Gold fork occurred on 24th of October 2017, at block height 491,407. It does retain Bitcoin’s transaction history, meaning if you owned Bitcoins before the fork, you now own the equal amount of Bitcoin Gold. This cryptocurrency aims to introduce an alternative mining algorithm that is less susceptible to ASIC-based optimisation, therefore allowing users to earn more with their computer cycles.

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Limit Your Risk – You can preset profit and loss levels by using stop losses or take profit limits when you trade. Determine the maximum amount you are prepared to risk when speculating on the price, or set a price at which you want to take profits. Future orders like Buy Stops and Buy Limits are also available.

Trade Cryptos Against Fiat Currencies – Unlike many exchanges out there, who are restricting their clients to trade only Crypto to Crypto, our clients can trade Cryptos against Fiat currencies (USD, EUR, JPY etc.), as well.

Bitcoin Gold in the markets

Yet another Bitcoin offspring that did not have a very promising start; Immediately after its launch in late October, it’s website had to force a shutdown after a DDOS attack. Obligating the Bitcoin Gold price to decline substantially. According to finance leaders CoinMarketCap, Bitcoin Gold started trading at $479 at 20:00 UTC by 16:11 UTC plummeted to $274.44.

Besides their website being offline, another reason for the devastating decline was predominantly by fault of the lack of support from the Bitcoin community.

It is an extremely volatile asset and continues to dance among the bulls and the bears:

5 Facts you should know about Bitcoin Gold

This BTG coin was created by Jack Liao, founder of Lightning ASIC (a computer mining firm in Hong Kong). Liao made the project public in July 2017.

Equihash is Bitcoin Gold’s new protocol. Bitcoin uses Secure Hash Algorythm (SHA-256 bit). BTG will be replaced by PoW algorithm, Equihash, which some say is superior, with vast memory and even faster execution.

To ensure the safety of the Bitcoin ecosystem, BTG implements unique cryptocurrency wallet addresses and replay protection system – double the protection from hackers and malicious threats.

Full transparency through a free open source software project. This project is built by volunteer developers and avid Bitcoin enthusiasts worldwide.

When trading with AvaTrade you are trading on the price changes of the digital coin, and not physically purchasing it.
The maximum accumulated position size for Bitcoin Gold is $50,000 notional value, details in our Trading Conditions and Charges page.